Why You Should Buy a Car Warranty
If there’s one thing that all car buyers want out of their vehicles, it’s reliability. While some car manufacturers and models certainly have better reputations for reliability than others, customers want more than a trustworthy name. They want full protection in case they run into any problems, and full protection means opting for a car warranty. Whether you’re buying a used car and need a warranty or a new car and want to increase your coverage with an extended warranty, it’s an investment in peace of mind to keep you covered in case of any issues. In this article, we’ll talk about four benefits of opting for a car warranty.
1. Huge Potential for Savings
While some experts claim that car warranties are overpriced and rarely worth it, there’s no denying that if you run into a serious mechanical problem, a warranty can save you thousands of dollars. This is especially true for imported car manufacturers like BMW, Audi and Mercedes where car parts are very expensive to fix. For example, a cylinder head on a 3 Series BMW costs more than $10,000, costing way more than any warranty. While manufacturers like Ford, Toyota and Mazda are much cheaper to repair, the costs of repairs through years of deterioration can make a car warranty worth it.
2. Peace of Mind
The second benefit to opting for a car warranty is that you’re able to have peace of mind. Without a car warranty, it’s always stressful seeing the engine light go on and knowing that this could potentially cost you hundreds, if not thousands of dollars to repair. When you have coverage, you don’t need to stress about seeing an engine light go on or an occasional visit to the mechanic shop.
3. Extra Perks
Not only are car warranties great for peace of mind and savings, but they commonly also have hidden perks. While this is dependent on the car warranty you buy, many of them come with roadside assistance, rental car reimbursement and towing. This adds a ton of value as you don’t need to pay an additional monthly or annual fee for a roadside assistance company like CAA. The second perk to car warranties is that unless you buy an extended warranty from the manufacturer, you’re able to get your vehicle repaired at most mechanic shops. With manufacturer warranties, typically you’re required to take your vehicle to a specific garage for repairs.
4. Increase Resale Value
The last benefit of opting for a car warranty is that if you decide to sell the car within its warranty period, you’ll be able to get more money for the vehicle. Most car warranties are transferable for a small fee and now the new owner has peace of mind that the car they just bought is covered in case of any potential issues.
In the end, whether or not you decide to buy a car warranty is up to you, but we think these four benefits are well worth the extra cash.
Looking for a Car Loan?
If you’re looking to get a car loan, fill out our short application and get pre-approved for financing today!